Opentrons, a US-based developer of robotic technology for life science testing, picked up $200m yesterday in a series C round led by telecommunications and internet group SoftBank’s Vision Fund 2.
Venture capital firm Khosla Ventures also participated in the round, which valued the company at $1.8bn according to Bloomberg.
Founded in 2013, Opentrons has built an automated pipetting robot designed for life science research in areas such as drug discovery, genomics and proteomics. The devices can also be used for cell-based assays and biochemical assays.
The company will invest the proceeds of the round in its automated laboratory platform, including in the development of new robotic tools, diagnostic tests and additional diagnostic labs. It also intends to expand its biofoundry.
Angela Du, investment director at SoftBank Investment Advisers, which manages Vision Fund 2, said: “Opentrons is building a disruptive automated lab platform that is aiming to transform healthcare and life sciences with a vertically integrated, low-cost solution.
“The company has an extremely high-value proposition in the lab diagnostics and synthetic genomics markets where its robotics and consumables serve as foundational components today.”
Opentrons raised $20.6m from undisclosed investors in August 2020 having also collected $2.3m from unnamed backers in November 2019, according to regulatory filings. Khosla Ventures led a $10m seed round for the company in 2018 that included Lerer Hippeau Ventures, Y Combinator Continuity Fund and angel investor Jeff Kindler.
A securities filing shows Opentrons received $7.2m from undisclosed investors in 2017, after participating in Y Combinator’s winter 2016 cohort. It has identified investment manager Sands Capital and VC firm SOSV are existing backers.